Sharing Is Caring For Flanders Govt & Insurers

The Flemish Government, together with the insurers, will reimburse every Fleming 100% for the damage suffered as a result of the flooding. The Flemish Disaster Fund is allocating a maximum of 79 million euros for this. In addition, the insurers are doubling their financial effort. An agreement has been reached with Assuralia for this.

Between 14 and 16 July 2021, our country was hit by unprecedented flooding. In Flanders, the province of Limburg was particularly affected. Many Flemish families are still struggling with the consequences of the damage incurred. In recent weeks, the insurers have made every effort to map this damage as quickly as possible. The total damage is estimated between 90 and 123 million euros. The Flemish government has now reached an agreement with the sector to ensure that all insured persons are compensated 100% for the damage suffered in accordance with the contract of their fire insurance .  

Flemish Prime Minister Jan Jambon

“I am very pleased that the Flemish government and the insurers can both pull out all the stops to deal with this unprecedented disaster. The insurance companies are prepared to contribute a lot more than the insurance law requires. As a government, we cover the difference, so that no one is left out in the cold. 

Flanders will compensate the damage via the Flemish Disaster Fund in addition to the compensation paid by the insurers. Given the magnitude of the total claim, insurers are protected by law to guarantee their solvency. This law provides for ceilings on the intervention of insurers in the event of major natural disasters. The insurance sector will double its effort to 44 million euros as far as Flanders is concerned and fully compensate every insured victim, even if the damage burden would exceed the legal limit. On top of this part paid out by the insurers, the Flemish Government has now decided to pay the balance to the victims of the flood.

About alastair walker 10567 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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